Ground Swell Capital LLC Takes Position in Marriott International, Inc. (NASDAQ:MAR)

Ground Swell Capital LLC acquired a new position in Marriott International, Inc. (NASDAQ:MAR) in the second quarter, Holdings Channel reports. The fund acquired 3,993 shares of the company’s stock, valued at approximately $965,000. Marriott International accounts for approximately 0.7% of Ground Swell Capital LLC’s holdings, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Marriott International by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company’s stock worth $2,678,750,000 after purchasing an additional 192,652 shares during the period. Capital International Investors boosted its stake in Marriott International by 4.7% in the first quarter. Capital International Investors now owns 3,296,879 shares of the company’s stock valued at $831,836,000 after acquiring an additional 149,378 shares during the last quarter. Parnassus Investments LLC grew its position in shares of Marriott International by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 2,457,382 shares of the company’s stock valued at $554,164,000 after acquiring an additional 7,135 shares during the period. Norges Bank bought a new stake in shares of Marriott International in the 4th quarter worth approximately $461,525,000. Finally, Wells Fargo & Company MN lifted its stake in Marriott International by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 660,831 shares of the company’s stock valued at $149,024,000 after purchasing an additional 29,785 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Trading Down 1.3 %

Shares of MAR opened at $225.67 on Wednesday. The stock has a 50-day moving average price of $230.56 and a 200-day moving average price of $238.48. The company has a market cap of $64.46 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 5.35 and a beta of 1.59. Marriott International, Inc. has a 12-month low of $180.75 and a 12-month high of $260.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts predict that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, August 16th. Marriott International’s payout ratio is currently 26.01%.

Analysts Set New Price Targets

Several brokerages have issued reports on MAR. Truist Financial lowered their target price on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Barclays lifted their target price on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 17th. Macquarie reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a report on Friday, August 2nd. Finally, Robert W. Baird lowered their target price on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Marriott International has a consensus rating of “Hold” and a consensus target price of $244.44.

Marriott International Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.